Power Grid Corporation of India, a government-owned entity, has entered into a green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) to support renewable energy initiatives. The loan, denominated in Japanese yen and equivalent to $200 million, includes a greenshoe option for an additional $150 million. The agreement, signed on December 31, 2024, at GIFT City in Gandhinagar, Gujarat, reflects a strategic partnership aimed at building key infrastructure for renewable energy integration into the national grid.
According to Power Grid, the funds will be used to develop renewable energy projects, enhance grid reliability, and support sustainable growth across India. The company reaffirmed its dedication to environmental, social, and governance (ESG) principles, which are now embedded in its core operations, along with clear ESG goals and a vision for sustainable progress.
Power Grid Corporation of India Limited (POWERGRID) is a leading central transmission utility in India, responsible for the planning, implementation, operation, and maintenance of the country’s high-voltage power transmission network. Headquartered in Gurugram, POWERGRID plays a critical role in ensuring reliable and efficient electricity distribution across the nation, supporting economic growth and development.
The company operates an extensive network of transmission lines and substations, integrating renewable energy sources while minimizing transmission losses. With a commitment to innovation and sustainability, POWERGRID has also ventured into smart grid technologies and international consultancy services, reinforcing its position as a key player in the global power sector.
